Jack Bogle, Rabble-Rouser — Oblivious Investor
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When you think of the words punk or rabble-rouser, you probably don’t think of a man in his late eighties, wearing a navy blazer and khakis. But as Eric Balchunas writes, that’s exactly what Vanguard founder Jack Bogle was.
He turned an industry on its head, and he spoke his mind in a way that few people really do. As Balchunas notes, “His TV hits on business networks were mostly about the futility of trying to pick stocks or time the market. He’d give a speech at an ETF conference about why ETFs were awful, or trash active management at a conference for fund managers.”
“He built an entire genre of investing by trying to eliminate everything that gets in the way of investors getting a fair share of returns, including management fees, brokers, turnover, trading costs, market timing, and human emotion.”
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